First Choice Tax Services

Due to the increased number of new clients, we may need to decline additional work if we determine we cannot complete all existing client returns before the deadline. Please submit your tax documents as soon as possible so we can monitor our workload effectively.

Returns received within 7 business days of the April 30 deadline may be subject to a surcharge of 1.5 times the standard preparation fee if required to cover the overtime to complete them so they can be filed and paid without penalties.

Please remember that CRA will not text or email you with a link to confirm anything. They will only email you to tell you your account has mail. Always log on directly through the website and your own login to check on anything to do with your account. Please tell your non technical friends, parents etc. Lots of scam emails and texts this time of year. Keep your information safe.

New CRA authorization rules. Be aware that tax preparers can no longer get authorization to your CRA account through our software. If you have access to your “My Account” you can add an authorized representative yourself. If you have lost access or do not have a “my account”, setting up authorization is a multiple step process and can delay or cause a preparer to not accept your file until authorization is confirmed. Be prepared and make sure you have access to your CRA account.

It’s the Deadline! ⏰
Today (April 30) is the official deadline to file your personal taxes and pay any balance owing to avoid interest from the CRA.

That said, if you were affected by recent CRA disruptions, they’ve announced late-filing penalties and interest will be waived until June 2, 2025, for impacted T1 individual filers.

✨ Self-employed? You’ve got a bit more time! If you or your spouse/common-law partner are self-employed, you have until June 17 this year (since June 15 falls on a weekend) to file your return. But keep in mind: any balance owing is still due today to avoid interest charges.

Thanks to all of you for making this our busiest tax season yet. We’re so grateful for your trust and support, and look forward to helping you next year.

Send a message to learn more

Tax season opens February 24th for efiling. T4s should be issued by the end of February and investment slips by the end of March. There is no guarantee that CRA will have all your slips especially early in the season so be sure you submit all your paper copies for confirmation. Missed income reporting can result in penalties.

Your data privacy and security starts with knowing what to expect from us.

Remember, we won’t:
❌Email or text you a link asking you to fill in an online form
❌Ask for your personal or financial info by email
❌Send you an email or a text with a link to get a payment

Learn what to expect when we contact you ➡️ https://ow.ly/Q24O50UOyQ7

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CRA changes to bare trust reporting for 2023. Now exempt.

New – Bare trusts are exempt from trust reporting requirements for 2023 - Canada.ca To support ongoing efforts to ensure the effectiveness and integrity of Canada’s tax system, and to meet its international obligations in relation to transparency and beneficial ownership, the Government of Canada introduced new reporting requirements for trusts.

BC Renters Credit. Don’t forget to tell your tax preparer that you rent. You need your landlord’s name, how much rent you paid, and how many months. If your household income is less than $60,000 you will increase your refund or reduce what you owe by $400.00. House hold income between 60,000 and 80,000 will still get a portion.

Genx/First Choice is hiring. Please follow the link below to apply.

Accounting Technician - Nanaimo, BC - Indeed.com GenX Business Solutions Inc.

Well it’s here again. Time to organize your financials and get ready for tax time. If you need help please do not hesitate to call us, we have all types of spreadsheets to help you. Efiling opens February 21st but you must have all your T slips as CRA may not have them all that early.